Champagne’s future markets: #5 Singapore

5. Singapore

The-Singapore-MerlionLike South Korea, Singapore doesn’t receive as much attention as it perhaps deserves.

This is all the more inexcusable since it is one of the leading Asian markets and, like Hong Kong, because of a legacy of British colonialism, far more advanced in its vinous tastes. Let us not forget that The Wine Advocate’s new investor is from Singapore.

More importantly though, its Champagne imports went up again in 2011 just outpacing China at 20% to grow to 1.4m bottles.

What is exciting about a market like Singapore is that while it still has volume growth to exploit, it is also a market becoming sufficiently developed to begin diversifying into different styles – something that many Champenois are very happy to see happening in Japan, for example.

Value, diversification and appreciation are just as important traits and trends to cultivate as massive volume growth, more so in fact.

Singapore has a population of some 5 million and an expat community approaching 300,000. It welcomes over 10m tourists a year, a figure that has been projected to rise to around 17m by 2015. It is also an English speaking market, with most Singaporeans fluent in both English and Chinese, Malay or Tamil.

It may not be the tax free hub that Hong Kong turned itself into in 2008 and the rate of SPD$70 on each litre of imported wine hits the entry level hard. However, the finer end of the wine market is less affected (which suits Champagne) and VAT remains at a lowly 7%.

Champagne’s future markets: #6 Mexico

Champagne’s future markets: #7 the UAE

Champagne’s future markets: #8 the US

Champagne’s future markets: #9 South Korea

Champagne’s future markets: #10 Africa

3 Responses to “Champagne’s future markets: #5 Singapore”

  1. Tai-Ran Niew says:

    It can’t possibly be SPD$70 … that is £35. It must be SPD$7?

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

Sales and Brand Manager

The Duchess Virgin Gin & Tonic
London,

Sales Scotland

Liberty Wines
Scotland, UK

Supply Chain Supervisor

Speciality Drinks
UK, UK

Sales Manager

Stilnovisti
London, UK

Regional Key Account Manager - On Trade

Lanson International UK
South of England, UK

Private Account Manager

Jeroboams Wine Merchants
London N1, UK

Sales Role

JF Tobias
London, UK

Events Assistant

Decanter
London, UK

Head of Marketing

Decanter
London, UK

Market Manager - Asia

Wines of South Africa
China,

Prosecco Springs

London,United Kingdom
26th Apr 2018

Spirits & More

Rome,Italy
19th May 2018

db Awards 2018

London,UK
23rd May 2018
Click to view more

The Global Malbec Masters 2017

the drinks business is proud to announce the inaugural Global Malbec Masters 2017

The Global Sparkling Masters 2017

the drinks business is thrilled to announce the launch of The Global Sparkling Masters.

Click to view more